CryoLife, Inc. (NYSE:CRY) announced its quarterly earnings data on Monday, July 24th. The medical equipment provider reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.02, Bloomberg Earnings reports. CryoLife had a return on equity of 7.41% and a net margin of 6.16%. The firm had revenue of $47.80 million for the quarter, compared to analysts’ expectations of $47.02 million. During the same period last year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. CryoLife updated its FY17 guidance to $40-0.43 EPS.
CryoLife (CRY) traded up 0.26% during mid-day trading on Friday, hitting $19.05. The company had a trading volume of 88,610 shares. CryoLife has a 1-year low of $14.03 and a 1-year high of $20.30. The stock has a market capitalization of $637.15 million, a PE ratio of 57.73 and a beta of 0.97. The stock has a 50 day moving average price of $19.18 and a 200-day moving average price of $17.98.
Several analysts recently issued reports on the company. BidaskClub cut CryoLife from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised CryoLife from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, June 8th. Finally, Northland Securities reissued a “buy” rating and issued a $23.50 target price on shares of CryoLife in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. CryoLife has an average rating of “Hold” and a consensus target price of $22.00.
In related news, VP Amy Horton sold 9,577 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $20.00, for a total value of $191,540.00. Following the sale, the vice president now directly owns 112,282 shares of the company’s stock, valued at approximately $2,245,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CRY. Municipal Employees Retirement System of Michigan increased its position in CryoLife by 3.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,150 shares of the medical equipment provider’s stock worth $102,000 after buying an additional 190 shares in the last quarter. Mason Street Advisors LLC increased its position in CryoLife by 7.4% in the first quarter. Mason Street Advisors LLC now owns 6,324 shares of the medical equipment provider’s stock worth $105,000 after buying an additional 438 shares in the last quarter. State of Alaska Department of Revenue increased its position in CryoLife by 80.8% in the second quarter. State of Alaska Department of Revenue now owns 5,387 shares of the medical equipment provider’s stock worth $107,000 after buying an additional 2,407 shares in the last quarter. First Mercantile Trust Co. increased its position in CryoLife by 5.6% in the second quarter. First Mercantile Trust Co. now owns 5,448 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 291 shares in the last quarter. Finally, Creative Planning increased its position in CryoLife by 3.0% in the second quarter. Creative Planning now owns 6,806 shares of the medical equipment provider’s stock worth $136,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 69.22% of the company’s stock.
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CryoLife Company Profile
CryoLife, Inc (CryoLife) is a medical device manufacturer and processor, and is engaged in the distribution of medical devices and implantable human tissues used in cardiac surgical procedures. The Company operates through two segments: Medical Devices and Preservation Services. The Medical Devices segment includes medical devices, such as BioGlue Surgical Adhesive, BioFoam Surgical Matrix, On-X Life Technologies Holdings, Inc valves and surgical products, CardioGenesis cardiac laser therapy product line, PerClot and PhotoFix.
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